Azerbaijani AFB Bank discloses data on total liabilities for 1Q2020

Finance Materials 11 May 2020 15:13 (UTC +04:00)

BAKU, Azerbaijan, May 11

By Eldar Janashvili - Trend:

The volume of total liabilities Azerbaijani AFB Bank remained almost unchanged in the first quarter of 2020, Trend reports citing the bank’s balance sheet on May 11.

Since the beginning of 2020, the volume of the bank’s total liabilities increased by only 20,000 manat ($11,764) to 494.3 million manat ($290.7 million), the report said.

A significant share (77.2 percent) in the structure of liabilities accounted for deposits, which increased by 0.5 percent and exceeded 381.3 million manat ($224.2 million). Moreover, over 90 percent accounted for deposits of legal entities, which increased by 750,000 manat ($441,176) to 345.7 million manat ($203.3 million). The deposits of individuals accounted for nine percent or 35.7 million manat ($21 million), indicating an increase of 3.5 percent from the end of 2019.

Liabilities to the Central Bank of Azerbaijan (CBA), credit organizations and other financial institutions decreased by 3.4 percent since the beginning of 2020 and amounted to 106 million manat. Other liabilities amounted to 6.9 million manat ($4 million), an increase of 34.1 percent.

“The bank’s capital stock did not change and remained equal to 70.4 million manat [$41.4 million]. Retained earnings amounted to 11.3 million manat [$6.6 million], increasing by 29 percent since the beginning of 2020. Capital reserves of the bank exceeded to 1.4 million manat [$0.8 million], an increase of 14 percent,” said the report.

The bank’s total capital amounted to 83.2 million manat ($48.9 million), an increase of 3.4 percent.

(1 USD = 1.7 manat on May 11)


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